Are These Robinhood Penny Stocks On Your List This Week?
If you’ve traded penny stocks this week, you know certain platforms haven’t been the easiest to work with. You might think that it’s Robinhood, again. But surprisingly enough, it’s one of the “classic” online brokers. I’m talking about TD Ameritrade and the complete s*** show it created for day traders this week.
For 2 consecutive days (so far) the online desktop access to its famous (now infamous) ThinkOrSwim software was unavailable. While subscribers could still access trading on the website and mobile app according to TDAmeritrade Tweets, this was a big problem for countless traders. While we see what happens on Wednesday, it hasn’t stopped traders from looking for penny stocks to buy. I think one of the big reasons behind the crash so many online platforms have experienced is the dramatic increase in users.
By far, however, the fastest growing platform right now has been Robinhood. In May, Robinhood said it had 13 million accounts, up from 10 million at the end of 2019. Schwab said it had 12.7 million brokerage accounts in its latest filings; E-Trade reported 5.5 million. In light of this, there are always plenty of traders looking for penny stocks on Robinhood. But, of course, just because we’ve identified that platform, it doesn’t mean you aren’t able to access the same penny stocks on ETrade, Schwab, TD, etc.
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Another thing that Robinhood had (but doesn’t anymore) was a way to see how many users actually held shares in their portfolios. While it didn’t give the number of shares, it did reveal, more or less, the overall popularity of certain stocks. Needless to say, there are other ways to see where the buzz is growing. Here’s a few penny stocks gaining attention right now.
Penny Stocks On Robinhood To Watch This Week #1: XpresSpa Group Inc.
This one is on the riskier side of things in my opinion. The main reason is that it’s on the eve of an upcoming earnings report. XpresSpa Group Inc. (XSPA Stock Report) is a company we first started following in late-March as it was having “high-level talks” pivot into coronavirus testing sites.
Following confirmation that XspresSpa locations were making the transition, momentum continued in the stock. XpresCheck has begun a pilot program at New York’s John F. Kennedy International Airport Terminal 4. This week XpresSpa expanded on its efforts after the JFK pilot program.
The company announced that it signed a contract with the Port Authority of New York and New Jersey to provide diagnostic COVID-19 testing at Newark Liberty International Airport. This, of course, is through its XpresCheck brand. XpresSpa said it’s currently building a modular constructed testing facility within Terminal B that will host 6 separate testing rooms with a capacity to administer over 350 tests per day. It’s also important to note a few other things. as well.
But again, if XSPA stock is on your list, you’ll might want to see what happens on Wednesday. That’s because the company is scheduled to report earnings after the market close. So you’ll have to wait an entire day’s worth of speculation to see how big of an impact COVID had on the company. Furthermore, I feel like due to this XpresTest pivot, management’s discussion on future potential will be important to dissect as well.
Penny Stocks On Robinhood To Watch This Week #2: Avinger Inc.
Avinger Inc. (AVGR Stock Report) is another one of the penny stocks we’ve been following this month. Those of you who’ve read our articles are likely familiar with Avinger when we started picking up on progress on August 3rd. The company had just announced its second-quarter results. Avinger beat estimates for EPS as well as sales for the quarter. Avinger reported ($0.18) EPS compared to ($0.20). Sales came in at $1.5 million compared to $1.34 million. Also, during the first week of August, a 13G filing showed a 5.7% stake taken in the company by CVI Investments, Inc.
If you do a little research, you can see that CVI has investments in a number of small-cap medical, biotech, and healthcare-related names. That 5.7% equates to a 4 million share position in the company. Since the 3rd when AVGR stock traded around $0.47, shares have managed to climb by nearly 60% after highs this week of $0.75.
Why could AVGR be seeing increased momentum lately? While the jury’s still out on that, we can look at some previous updates for clues. In May Avinger submitted a 510(k) application for U.S. pre-marketing clearance. This was for its Ocelaris image-guided CTO crossing catheter. Completion of the company’s INSIGHT IDE study “remains a priority” according to management.
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Specifically, CEO, Jeff Soinski said on the earnings conference call that, “We’re excited about the potential for Ocellaris to drive growth of our image-guided CTO crossing business and continue to anticipate U.S. premarketing clearance for this advanced device in the second half of this year.”
Penny Stocks On Robinhood To Watch This Week #3: 9 Meters Biopharma Inc.
Finally, 9 Meters Biopharma Inc. (NMTR Stock Report) is another one of the penny stocks we’ve watched closely this month. If you look at the chart from August you’ll see that NMTR stock has moved from around $0.49 to highs of $0.75 so far. That 53% jump hasn’t come without its own set of catalysts. As discussed very recently, 9 Meters stock hasn’t been able to establish a clear up or downtrend. However, more recently the trading activity has picked up beyond average levels. Friday saw more than 6 million shares trade and on August 17th, more than 11 million shares traded before the end of the day. Considering that NMTR typically trades less than 1 million shares a day, you might say “something’s a little different” right now.
What’s more, on August 17th, a FORM 4 was filed. It showed company CEO John Temperato purchasing 35,000 shares of NMTR stock at an average of $0.5666 per share. This came just after second-quarter results were released. The main point of focus, however, was its business update from the quarter and outlook for the future.
The company initiated Phase 1b/2a clinical trial with a proprietary long-acting GLP-1 agonist, in short bowel syndrome. The first patients were dosed in July and top-line data is expected by Q1 2021. Furthermore, the company is expecting lead indication selection of its NM-003 and NM-004 during the second half of this year. Both treatments deal with different GI issues.
While shares gapped up and pulled back slightly on Tuesday, the uptrend continues to hold. Additionally, another round of insider activity has come to light. On August 18th another FORM 4 was filed. This time it showed Director Mark Sirgo picking up 100,000 shares in the market at an average price of $0.56. This brought his direct holdings to 411,784 shares according to the FORM.
